MSFT: $40B Buybacks In-Line With Street; A Lot Depends on Timing

By

Tiernan Ray

Sept. 17, 2013 3:37 p.m. ET

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By

Tiernan Ray

Sept. 17, 2013 3:37 p.m. ET

Shares of Microsoft (MSFT) are up 19 cents, or 0.6%, at $32.99, as the Street digests the company's announcement this morning it raised its quarterly dividend more than 20% and renewed its $40 billion buyback authorization, replacing a prior $40 billion program, instituted in 2008, of which $3.6 billion remained.

The announcements take place ahead of the company's annual meeting with analysts, which kicks off at 1 pm, Thursday, at its...